| GEO Business|
| Oil remains below 70 dollars in Asia|
| Updated at: 1120 PST, Wednesday, September 02, 2009|
SINGAPORE: Oil recovered in Asian trade Wednesday but was still below 70 dollars amid worries about energy demand, analysts said.
New York's main contract, light sweet crude for October delivery was 52 cents higher at 68.57 dollars a barrel. Brent North Sea crude for October delivery advanced 24 cents to 67.97 dollars. The two contracts closed lower Tuesday, mirroring losses in global equities markets on investor concerns over the pace of recovery in the US and China, the world's top two energy users.
Crude prices briefly hit 75 dollars a barrel last week, its highest level in 10 months, but soon fell as analysts questioned the strength of underlying supply-demand forces.